Molson Coors Beverage (NYSE:TAP) Shares Acquired by River Road Asset Management LLC

River Road Asset Management LLC grew its position in Molson Coors Beverage (NYSE:TAP) by 1.8% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,677,241 shares of the company’s stock after acquiring an additional 29,315 shares during the quarter. Molson Coors Beverage comprises approximately 1.3% of River Road Asset Management LLC’s portfolio, making the stock its 22nd biggest position. River Road Asset Management LLC owned approximately 0.79% of Molson Coors Beverage worth $96,475,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of TAP. Family Firm Inc. acquired a new stake in shares of Molson Coors Beverage during the second quarter worth $26,000. Altshuler Shaham Ltd acquired a new stake in shares of Molson Coors Beverage during the second quarter worth $27,000. Crewe Advisors LLC acquired a new stake in shares of Molson Coors Beverage during the first quarter worth $43,000. GPS Wealth Strategies Group LLC lifted its holdings in shares of Molson Coors Beverage by 83.8% during the second quarter. GPS Wealth Strategies Group LLC now owns 645 shares of the company’s stock worth $33,000 after purchasing an additional 294 shares during the period. Finally, Geneos Wealth Management Inc. lifted its holdings in shares of Molson Coors Beverage by 153.7% during the first quarter. Geneos Wealth Management Inc. now owns 982 shares of the company’s stock worth $66,000 after purchasing an additional 595 shares during the period. 78.46% of the stock is owned by institutional investors and hedge funds.

Molson Coors Beverage Trading Up 1.3 %

Molson Coors Beverage stock opened at $55.71 on Tuesday. The stock has a market cap of $11.54 billion, a PE ratio of 10.20, a P/E/G ratio of 2.39 and a beta of 0.82. The stock has a 50-day moving average price of $55.28 and a 200 day moving average price of $54.46. Molson Coors Beverage has a 52 week low of $49.19 and a 52 week high of $69.18. The company has a current ratio of 0.95, a quick ratio of 0.75 and a debt-to-equity ratio of 0.46.

Molson Coors Beverage (NYSE:TAP) last posted its quarterly earnings results on Tuesday, August 6th. The company reported $1.92 EPS for the quarter, beating the consensus estimate of $1.68 by $0.24. The company had revenue of $3.25 billion during the quarter, compared to analysts’ expectations of $3.18 billion. Molson Coors Beverage had a return on equity of 9.58% and a net margin of 8.27%. The firm’s revenue was down .4% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.78 EPS. Equities research analysts predict that Molson Coors Beverage will post 5.71 earnings per share for the current fiscal year.

Analyst Ratings Changes

TAP has been the subject of a number of recent analyst reports. TD Cowen reduced their target price on Molson Coors Beverage from $58.00 to $56.00 and set a “hold” rating for the company in a report on Tuesday, October 8th. Citigroup reduced their target price on Molson Coors Beverage from $53.00 to $47.00 and set a “sell” rating for the company in a report on Wednesday, July 10th. Barclays raised their target price on Molson Coors Beverage from $47.00 to $49.00 and gave the company an “underweight” rating in a report on Thursday, August 8th. JPMorgan Chase & Co. raised their target price on Molson Coors Beverage from $57.00 to $60.00 and gave the company a “neutral” rating in a report on Friday, October 18th. Finally, Jefferies Financial Group reduced their target price on Molson Coors Beverage from $61.00 to $57.00 and set a “hold” rating for the company in a report on Thursday, July 18th. Three analysts have rated the stock with a sell rating, ten have issued a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, Molson Coors Beverage presently has a consensus rating of “Hold” and an average target price of $59.43.

Molson Coors Beverage Profile

Molson Coors Beverage Company manufactures, markets, and sells beer and other malt beverage products under various brands in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. The company offers flavored malt beverages including hard seltzers, craft, spirits and energy, and ready to drink beverages.